Teacher Retirement System of Texas raised its holdings in CNX Resources Co. (NYSE:CNX - Free Report) by 104.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,170 shares of the oil and gas producer's stock after buying an additional 23,630 shares during the period. Teacher Retirement System of Texas' holdings in CNX Resources were worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd bought a new stake in CNX Resources during the 4th quarter worth approximately $39,000. VSM Wealth Advisory LLC bought a new position in CNX Resources during the 4th quarter valued at $55,000. Principal Securities Inc. boosted its holdings in CNX Resources by 38.5% during the 4th quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer's stock worth $91,000 after acquiring an additional 691 shares during the last quarter. Blue Trust Inc. grew its stake in shares of CNX Resources by 65.1% in the 4th quarter. Blue Trust Inc. now owns 3,246 shares of the oil and gas producer's stock worth $119,000 after acquiring an additional 1,280 shares in the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in shares of CNX Resources in the fourth quarter valued at about $121,000. Institutional investors and hedge funds own 95.16% of the company's stock.
Analysts Set New Price Targets
CNX has been the topic of several analyst reports. Stephens upgraded shares of CNX Resources from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $35.00 to $48.00 in a report on Tuesday, March 18th. Raymond James upgraded CNX Resources from an "underperform" rating to a "market perform" rating in a research note on Tuesday, February 18th. Roth Capital set a $30.00 price target on CNX Resources in a research report on Thursday, January 23rd. Truist Financial lifted their price target on CNX Resources from $34.00 to $35.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Finally, Morgan Stanley set a $33.00 price objective on CNX Resources and gave the company an "underweight" rating in a research note on Wednesday, March 26th. Nine investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $30.69.
Read Our Latest Stock Report on CNX
Insider Buying and Selling
In other CNX Resources news, major shareholder Mfn Partners, Lp sold 1,075,000 shares of CNX Resources stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.09, for a total transaction of $33,421,750.00. Following the completion of the transaction, the insider now owns 13,925,000 shares of the company's stock, valued at $432,928,250. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is currently owned by insiders.
CNX Resources Stock Performance
Shares of CNX stock traded down $0.13 during trading on Monday, reaching $31.50. 2,059,626 shares of the company's stock traded hands, compared to its average volume of 2,661,192. The firm's 50-day moving average is $29.87 and its 200 day moving average is $33.33. The company has a market capitalization of $4.64 billion, a P/E ratio of -46.32, a PEG ratio of 0.42 and a beta of 1.26. CNX Resources Co. has a 1 year low of $22.82 and a 1 year high of $41.93. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45.
CNX Resources (NYSE:CNX - Get Free Report) last posted its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. CNX Resources had a positive return on equity of 6.72% and a negative net margin of 7.14%. Equities research analysts expect that CNX Resources Co. will post 2.18 EPS for the current year.
About CNX Resources
(
Free Report)
CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.
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